A new study comparing property taxes from city to city across the country shows Billings residents pay less in property taxes than the national average, but more than the Montana average.
The study by Roofstock.com, a national real estate investment firm, used the latest data from the U.S. Census Bureau to rank cities according to their effective property tax rates.
Billings was compared to other cities with a population between 100,000 and 150,000 people.
In 2019, the median property tax paid by U.S. homeowners was $2,578. Billings residents by comparison paid $2,322, or $257 dollars less.
When compared to other Montana residents, Billings taxpayers pay about $200 more than the state median.
The property tax rate in Billings is 0.92%, which is lower than the national median of 1.03%.
Americans living in New Jersey and Illinois pay the most in property taxes. The typical New Jersey homeowner paid an astonishing 8,432 dollars last year.
Among cities with a population greater than 350,000, Milwaukee, Wisconsin, and El Paso, Texas, have the highest property tax rates, while Colorado Springs, Colorado and Mesa, Arizona have the lowest.
Property taxes are the largest source of state and local government revenue.